General Electric (NYSE:GE) Holdings Trimmed by Certuity LLC

Certuity LLC decreased its holdings in General Electric (NYSE:GE) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 308,181 shares of the conglomerate’s stock after selling 8,711 shares during the period. General Electric comprises approximately 4.0% of Certuity LLC’s holdings, making the stock its 5th largest holding. Certuity LLC’s holdings in General Electric were worth $39,333,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Avestar Capital LLC purchased a new position in shares of General Electric during the third quarter valued at $267,000. Commonwealth Equity Services LLC increased its stake in shares of General Electric by 2.7% during the third quarter. Commonwealth Equity Services LLC now owns 351,098 shares of the conglomerate’s stock valued at $38,814,000 after buying an additional 9,134 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of General Electric by 9.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 139,128 shares of the conglomerate’s stock valued at $15,381,000 after buying an additional 12,020 shares during the period. Kingswood Wealth Advisors LLC increased its stake in shares of General Electric by 977.2% during the third quarter. Kingswood Wealth Advisors LLC now owns 46,609 shares of the conglomerate’s stock valued at $5,153,000 after buying an additional 42,282 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of General Electric by 26.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 583,995 shares of the conglomerate’s stock valued at $64,561,000 after buying an additional 123,743 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Down 0.9 %

NYSE GE traded down $1.55 during trading on Tuesday, hitting $162.94. The company’s stock had a trading volume of 4,216,732 shares, compared to its average volume of 8,031,000. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. The company has a market cap of $178.36 billion, a PE ratio of 53.93, a P/E/G ratio of 2.90 and a beta of 1.29. The business’s 50 day simple moving average is $161.02 and its 200-day simple moving average is $136.80. General Electric has a fifty-two week low of $77.93 and a fifty-two week high of $166.26.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. The business had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $0.27 earnings per share. On average, equities analysts anticipate that General Electric will post 3.93 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were issued a dividend of $0.28 per share. This is an increase from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. General Electric’s payout ratio is 36.72%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GE. Royal Bank of Canada raised their price target on General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Citigroup raised their price target on General Electric from $120.43 to $186.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Vertical Research assumed coverage on General Electric in a research report on Thursday, April 4th. They set a “buy” rating and a $160.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on General Electric from $180.00 to $148.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. Finally, Bank of America raised their price objective on General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, General Electric currently has an average rating of “Moderate Buy” and a consensus target price of $172.29.

Insider Buying and Selling

In related news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the completion of the transaction, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the transaction, the senior vice president now owns 48,339 shares of the company’s stock, valued at $6,552,351.45. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

About General Electric

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.